New York Markets After Hours

Siemens CEO Kleinfeld to leave company at end of September

LONDON (MarketWatch) -- Siemens
siSIE, -0.12%
said its chief executive, Klaus Kleinfeld, will leave the company at the end of September after discussions about postponing his contract extension again. "In times like these, the company needs clarity about its leadership. I have therefore decided not to make myself available for an extension of my contract," he said in a statement. He said Siemens is showing major business successes but also is in the midst of an intensive investigation of corruption. Gerhard Cromme of Siemens supervisory board said there's no indication of personal misconduct or that Kleinfeld had any knowledge of events.

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